Send money to Taiwan
Remitly
Rate 30.7820 · Fee free
You send
$1,000
Estimated receipt
NT$30,782
Affiliate link · No extra cost to you
Quick answer: Remitly is the only estimate we hold for 1,000 USD → TWD: 30,782.02 TWD. One estimate cannot establish the cheapest option.
Latest pricing observation: . Quotes are kept per USD→TWD pair, not per country, so check is served before you commit. Methodology.
What is the cheapest way to send USD to TWD?
Sending $1,000 to Taiwan: 1 USD → TWD quote so far.
Taiwan receives remittances primarily from its diaspora in the United States, Japan, and Southeast Asia. The New Taiwan dollar (TWD) is managed by the Central Bank of the Republic of China (Taiwan), which intervenes periodically to maintain stability. Taiwan's banking sector is highly competitive with over 35 domestic banks, though Cathay United, CTBC, E.SUN, and Taipei Fubon Bank dominate retail services. Despite having a sophisticated financial system, Taiwan remains underserved by global remittance fintechs — fewer providers support TWD compared to other major Asian currencies.
- Taiwan does not use IBAN — international transfers require a SWIFT code, bank branch code, and local account number.
- Cathay United Bank, CTBC Bank, E.SUN Bank, and Taipei Fubon are the most commonly used banks for receiving international wires.
- The TWD is not freely traded offshore to the same extent as JPY or KRW, so provider FX markups can be higher.
- Fewer global remittance providers support TWD compared to other major Asian currencies, limiting competition on this corridor.
- LINE Pay and JKoPay are popular domestic payment apps, but neither serves as a direct international remittance receiving channel.
Which provider offers the best USD to TWD rate?
Remitly
4.6Exchange rate
30.7820
Fee
Free
Recipient gets
NT$30,782.02
Speed
Minutes
Crypto & stablecoin routes for USD → TWD
Each is a fiat on-ramp → blockchain → local cash-out, not a one-tap transfer. All-in cost below.
MAX ExchangeBeats mid-market
Coinbase → Solana (USDC) → MAX Exchange · ~1 second
31,990 TWD
0.41% rebate all-in
+
MAX ExchangeBeats mid-market
Coinbase → Solana (USDC) → MAX Exchange · ~1 second
31,990 TWD
0.41% rebate all-in
- 1Coinbase USD→USDC: FREE
- 2Solana network: 0.000250 USDC
- 3MAX Exchange: 0.07185928078231679% spread
- 415 TWD withdrawal fee
Also routable via Solana (USDC), Tron (USDT), Stellar (USDC), Polygon (USDC).
Source: MAX Exchange REST API (max-api.maicoin.com)
Crypto rails involve exchange accounts, wallets, and price/liquidity risk. Costs are estimates from live exchange and network data, refreshed every 6 hours. Not financial advice.
Guides, fees & how it works
What you need to send money to Taiwan
Full name
Recipient's full name as registered with their Taiwanese bank account
Bank account number
Taiwanese bank account number (typically 12–14 digits)
Example: 12345678901234
Bank code
3-digit bank code identifying the financial institution (e.g. 004 for Bank of Taiwan, 008 for Hua Nan)
Example: 004
Branch code
4-digit branch code
Example: 0012
SWIFT/BIC code
SWIFT code for international wire transfers
Note: Taiwan does not use the IBAN system. Transfers require a 3-digit bank code, 4-digit branch code, and account number. The bank code plus account number forms a unique identifier in the domestic FISC (Financial Information Service Co.) payment network.
Ways to send money to Taiwan
Bank deposit is the primary method in Taiwan. Taiwan has a highly developed and efficient banking system. LINE Pay and JKoPay are popular domestic payment platforms but international inbound support is limited.
How can my recipient receive money in Taiwan?
Recipients in Taiwan have 2 ways to receive this transfer: bank deposit; cash pickup.
Bank Deposit
Direct SWIFT transfer to Taiwanese bank accounts. The standard method for international transfers.
Cash Pickup
Collect cash from agent locations in Taiwan.
What are the transfer limits and regulations for Taiwan?
Regulatory body
Central Bank of the Republic of China (Taiwan) — CBC
Inbound transfer limits
Single inward remittance capped at USD 500,000 for individuals without prior approval; annual cap of USD 5 million
Documentation you may need
- Sender's government-issued photo ID
- Recipient's ARC (Alien Resident Certificate) or Taiwan National ID
- Purpose of remittance declaration for amounts over USD 500,000
- Tax ID for regulatory compliance
Important things to know
- Taiwan has foreign exchange controls — inbound remittances over USD 500,000 require prior CBC approval.
- The New Taiwan Dollar (TWD) is a managed float currency.
- Taiwanese banks are required to report all inbound transfers to the CBC for statistical purposes.
- Settlement may take an extra day due to Taiwan's time zone and banking hours.
Popular banks in Taiwan
6 banks commonly receive international transfers in Taiwan, including Bank of Taiwan and CTBC Bank — each bank's SWIFT/BIC code is below.
Bank of Taiwan
BKTWTWTP
CTBC Bank
CTCBTWTP
Cathay United Bank
UWCBTWTP
Taipei Fubon Commercial Bank
TPBKTWTP
E.SUN Commercial Bank
ESUNTWTP
Mega International Commercial Bank
ICBKTWTP
Frequently asked questions
Common questions about sending money to Taiwan
What is the cheapest way to send money to Taiwan?
Wise is one of the few major fintechs offering TWD delivery at competitive rates. For larger amounts, OFX and Xe also provide good value. Provider options for Taiwan are more limited than for Japan or South Korea, so the savings from comparing multiple providers can be significant — the fewer the competitors, the wider the rate differences.
How long does a money transfer to Taiwan take?
SWIFT bank transfers to Taiwanese banks typically take 1–3 business days, depending on the intermediary banks involved. There is no widespread real-time international payment integration for TWD. Transfers initiated early in the week and during Taiwanese business hours tend to settle faster.
What details do I need for a bank transfer to Taiwan?
You need the recipient's full name (matching their bank records), bank name (e.g., Cathay United, CTBC, E.SUN), the bank's SWIFT/BIC code, the branch code, and the local account number (typically 12–14 digits). Taiwan does not use IBAN. Including the bank's full English address can help avoid routing delays.
Does Taiwan use IBAN?
No. Taiwan does not participate in the IBAN system. International transfers to Taiwan require the SWIFT/BIC code of the recipient's bank, the branch code, and the local account number. This is similar to Japan and South Korea, which also use SWIFT-based routing rather than IBAN.
Can I use LINE Pay or JKoPay for international transfers to Taiwan?
LINE Pay and JKoPay are popular for domestic payments in Taiwan but do not accept direct international remittances. The standard method is to send via SWIFT to your recipient's bank account at Cathay United, CTBC, E.SUN, or another Taiwanese bank. From there, they can move funds to any domestic payment app instantly.
Are remittances to Taiwan taxed?
Taiwan does not tax incoming personal remittances. However, the Taiwan Tax Authority monitors large inbound transfers — amounts exceeding TWD 500,000 (roughly $15,000) may prompt a bank inquiry about the nature of the funds. Regular family support transfers are not subject to income tax.
How does the TWD exchange rate work?
The TWD is managed by Taiwan's central bank, which intervenes in the market to prevent excessive volatility. The currency is not as freely traded offshore as JPY or KRW, which means remittance providers may add larger FX markups. Provider rates for TWD can differ by 1–3%, making comparison especially valuable.
Which providers support transfers to Taiwan?
Wise, OFX, Xe, Western Union, and MoneyGram support TWD transfers. Wise offers the most transparent pricing for smaller amounts. OFX and Xe may provide better rates on larger transfers above $5,000. The corridor has fewer fintech options than Japan or South Korea, so traditional providers like Western Union remain relevant.
Can I pick up cash in Taiwan?
Western Union has cash pickup locations in Taiwan, primarily in Taipei, Kaohsiung, and Taichung, often inside banks or convenience stores. However, Taiwan has near-universal banking access and one of the highest ATM densities in Asia, making bank deposit the far more practical and common choice for receiving international money.